Amendment of section 47
Section 11 of the Finance Act, 1976 deals with amendment of section 47. Amendment of section 47 11. In section, 47 of the Income-tax Act, after clause (viii), the following clause shall be inserted with effect from the 1st day of April, 1977, namely:— '(ix) any transfer of a capital asset, being any, work of art, archaeological, scientific or art collection, book, manus The Act was enacted on 27 May 1976.
Amendment of section 47
11. In section, 47 of the Income-tax Act, after clause (viii), the following clause shall be inserted with effect from the 1st day of April, 1977, namely:—
'(ix) any transfer of a capital asset, being any, work of art, archaeological, scientific or art collection, book, manuscript, drawing, painting, photograph or print, to the Government or a University or the National Museum, National Art Gallery, National Archives or any such other public museum or institution as may be notified by the Central Government in the Official Gazette to be of national importance or to be of renown throughout any State or States.
Explanation.— For the purposes of this clause, "University" means a University established or incorporated by or under a Central, State or Provincial Act and includes an institution declared under section 3 of the University Grants Commission Act, 1956 (3 of 1956) to be a University for the purposes of that Act.
[Finance Act, 1976]
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Section 11, The Finance Act, 1976 (Act 66 of 1976).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 11
What does Section 11 of the Finance Act deal with?
Section 11 of the Finance Act is headed "Amendment of section 47". Amendment of section 47 11. In section, 47 of the Income-tax Act, after clause (viii), the following clause shall be inserted with effect from the 1st day of April, 1977, namely:— '(ix) any transfer of a capital asset, being any, work of art, archaeological, scientific or art collection, book, manus
How do I find court cases under Section 11 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1976 11, section 11 Finance Act 1976, section 11 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 11 of the Finance Act, and has it changed?
Its own text turns on University Grants Commission Act 3 (Application of Act to institutions for higher studies other than Universities), so none of them can safely be read on its own.
When was Section 11 of the Finance Act enacted?
Section 11 of the Finance Act, cited as Finance Act 1976 11, was enacted on 27 May 1976 as Act 66 of 1976. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule6272 words
- 8. Insertion of new section 32A2421 words
- 3. Amendment of section 21970 words
- 2. Income-tax1970 words
- 27. Amendment of Act 27 of 19571829 words
- 10. Insertion of new sections 44C and 44D1093 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.